The US CFTC has launched a broad investigation into Polymarket, covering social media activity and fraudulent transactions.

Odaily Planet Daily reports that the U.S. Commodity Futures Trading Commission (CFTC) is conducting a broad investigation into prediction market platform Polymarket, covering aspects of its business, including its social media activities. This comes after reports that Polymarket employed dozens of social media creators, primarily college-aged, to produce fake trading videos to attract users. The investigation also covers other aspects of the company's operations. The CFTC and the Department of Justice concluded their investigation last year into whether Polymarket violated a ban on U.S. users, but some U.S. users still bypassed the ban by using VPNs and other methods to access its main platform. Since reaching a settlement with the CFTC in 2022, Polymarket has technically banned U.S. users from using its main platform, but the company is taking steps to reinstate its main exchange in the U.S. and is working with the CFTC to lift the ban.